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Interpretation
- These terms and conditions apply to the collection of outstanding debts by VBS Debt Recovery Ltd (VBS) for client.
- In these terms and conditions, VBS means VBS Debt Recovery Ltd.
- "Client" means any individual, Company, Partnership or Trader using the service provided by VBS.
Use of information and Confidentiality
- All information given by the Client to VBS will be treated as strictly private and confidential and will be subject to the regulations as outlined under the Data Protection Act.
- All information provided by VBS under these terms and conditions shall be treated in confidence by the client and shall not other than by County Court Order be communicated, copied or otherwise divulged to any person or party whatsoever.
Liability
- Reports or information provided to the Clients may, in whole or part represent expressions of advice or opinion based on data supplied by third parties, the accuracy of which VBS will be unable to verify in every case. VBS will accept no liability
for any errors therein or omissions there from.
- VBS will not be liable for any loss or damage whatsoever as a result of the Client's use of any report or information supplied by VBS.
Indemnity
- VBS shall be indemnified by the Client for any actions taken by itself, the debtor or its agents, if such actions prejudice VBS's ability to collect. If such prejudice action occurs, VBS reserves the right to charge such commission that would be due as if the debt had been collected in full.
Debt Collection
- VBS are authorised by and on behalf of the Client to collect payments and issue receipts in relation to the Clients debtor and to deduct and retain fees owing to VBS for services rendered. Payment of the Clients debtor and to deduct and retain fees owing to VBS for services rendered. Payment of the recovered balance (less the retained fee) will be issued to the Client 10 days after and being banked, allowing ample time for the
payment to clear.
- Accounts settled and any monies received via any source after intervention by VBS are subject to commission fees at the prevailing rate. These fees must be settled within 10 days from the date
of payment receipt.
- Once a case is passed to VBS and a part payment results in a balance outstanding, the case will remain with VBS until the full amount is cleared. Withdrawal of an account before
VBS recommends closure, is subject to a commission charge equal to that of a full collection, unless an alternative rate is agreed with VBS before final action.
- The client must recognise that whilst every effort is made by VBS to recover the outstanding balance, no guarantee is either expressed or implied that such money will be recovered.
- The client must notify BS immediately if there is any change in the amount due in respect of any account passed to VBS for collection.
- If a case is recommended by VBS for litigation, no action will take place without the Clients approval, and only after all legal tariffs have been discussed and agreed upon by both
VBS and the Client. It is the Clients responsibility to advise VBS where any payment is received directly from the debtor after legal action has been instigated. Failure to do so may
make it difficult for the solicitor to recover any advance court costs that may have been made. VBS will not accept liability for any unnecessary costs, which might result.
- It is accepted that the Client will be notified in advance of any additional costs resulting from legal action, or fees the Client is likely to incur whilst VBS carries out the Clients
instructions.
- The time VBS takes to perform any obligation under this contract shall not be the essence of the contract.
- Where agreed in advance, VBS will accept settlement of the debt by installments. The agreed upon fee will be taken from each installment collected (i.e. 20% of each part payment).
Law of Contract
- This contract shall be governed, construed and enforced in accordance with English Law, which shall be the proper law of this agreement. Both parties hereby submit to the non-exclusive
jurisdiction of the English Courts.
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